Peavey has actually made some excellent products over the years.
Never what I'd consider high-end or audiophile, but good values. You've got to remember that Hartley started the company as a low cost alternative for the gigging musician. Normally very rugged and easily serviced products.
I know guys with (what have to be approaching 30 year old) CS800 poweramps, that go out and run balls out every night, year after year.
I'd still take a Mark IV or V over a Mackie anyday for FOH.
They made some cool tube guitar and bass amps a few times. Deuce and Butcher and Classics come to mind. Southern rockers and country guys loved that stuff.
Some of the AMR stuff was also quite good. The consoles were real sleepers.
I used to have a 520ti (580? IDR), I used every now and then on kik or bass cabs. Once worked for a particular vocalist when nothing else would.
The drums sound great, but (from what I've heard) are somewhat difficult to tune, don't fit standard cases, and have some problems with the wooden rim's plies separating.
They've made some great basses, too.
Unfortunately, with the possible exception of the Classics, it seems they immediately discontinue all the good stuff they come up with!